Finspiration Australia. Chart Analysis for Australian and International Stock Markets.

 3/11/22.  Morning Report.

Fed pulls the rug - stocks nose dive.

Dow Jones -1.55%.  SP500 -2.5%.  Nasdaq -3.36%.  Small Caps -3.41%.  Banks -1.97%.

SP500.

The up-trend in the SP500 is finished.  The Index is now down to the first level of horizontal support, that is unlikely to hold.  3700 looks like the next round number support level.

Iron Ore +0.4%.

Stochastic is in the oversold region.  Look for a move back above the 20 level for a buy signal.

Commodities.

Commodities Index +0.9%.  Energy +1.97%.  Base Metals -0.55%.  Agriculture -0.55%.  Gold -0.7%.

After 30 minutes of trading today, XJO is down >2%.  If we see a bounce today it is likely to be in the Energy Sector.

Bitcoin.

Bitcoin fell -2.17% overnight.  Could have been worse given the rout in tech stocks.  :)

BTC is inside the Kumo Cloud - that's the no-trade zone.  Wait for a move above the Kumo Cloud.